However, Walmart also brings a strong hand to the table. It is an even larger and more recognizable brand than Amazon. Consumers associate Walmart with the lowest price, which Walmart has the flexibility to offer on any given item because of its size and ability to keep overhead costs to a minimum. Walmart can lose money selling a hot product at extremely low margins and expect to make money on the strength of the large quantities of other items it sells. It also has a legendary continuous inventory replenishment system thatstarts restocking merchandise as soon as an item reaches the checkout counter. Walmart’s efficiency, flexibility, and ability to fine-tune its inventory to carry exactly what customers want have been enduring sources of competitive advantage. Walmart also has a significant physical presence, with stores all across the United States and in many other coun- tries, and its stores provide the instant gratification of shopping, buying an item, and taking it home immediately, as opposed to waiting when ordering from Amazon